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It’s hard to secure small business loans with bad credit but, even though it is more difficult, it is not impossible because there are a number of alternative lenders who offer funding solutions for individuals with bad credit history.What is the best bank for business loans?
In addition, Wells Fargo is a top bank for business loans, offering competitive financing options, including those with benefits for existing customers. Wells Fargo is also one of the most active SBA 7 (a) lenders: As of September 2020, Wells Fargo approved the most SBA 7 (a) loans of any traditional national bank in the country.What credit score is needed for a business loan?
You should have a credit score above 700 to seek a personal loan; to seek a business loan, your score should be as close to 800 as possible. Business Credit to Secure Financing. Once your business has been in operation for a number of years at least, it will have a record of payment and financial standing.